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OANDA , XM Broker Comparison

Do you want to know which is the better broker between OANDA and XM ?

In the table below, you can compare the features of OANDA , XM side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
OANDA
8.36
Domestic Regulation
Under guarantee
Above 20 years
ASIC,FCA,FSA,NFA,IIROC,MAS
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
Standard account
Foreign exchange, precious metals, crude oil, CFD
1 usd
50:1
EURUSD/1 Gold/3
0.00
floating
0.01
--
XM
9.04
Regulated
Under guarantee
--
--
10-15 years
ASIC,CYSEC,FSC,DFSA,FSCA
--
AAA
AA
375.5
2
2
2
1999
1994
1999
AAA

EURUSD: -0.2

XAUUSD: --

29
-14
29
AA
4.48 USD/Lot
26.39 USD/Lot
D

Long: -7.41

Short: 1.07

Long: -42.2

Short: 19.36

C
0.1
346.8
Micro Account,Standard Account,Ultra Low Spread Standard & Micro Account,Stock Account
Major FX pairs, Minor FX pairs, Commodities, Indices CFDs
5$
1:1000
as low as 1
20.00
Floating
0.1
--

OANDA 、 XM BrokersRelevant information

OANDA BrokersRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of oanda, xm lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

oanda
OANDA Basic Information
Registered Country/Region Australia
Founded in 1996
Regulation CFTC, FCA, ASIC, IIROC, MAS, NFA, FSA
Min. Deposit No minimum deposit
Max. Leverage 1:50 (US), 1:30 (EU), 1:200 (other regions)
Min. Spreads From 0.6 pips (EUR/USD pair)
Trading Instruments Forex, CFDs, indices, commodities, bonds
Trading Platforms OANDA Trade, MetaTrader 4, API Trading
Payment Methods Bank transfer, credit/debit cards, PayPal
Customer Support 7/24 phone, email, live chat

Overview of OANDA

OANDA is a well-known online forex broker that has been operating for over two decades. With a reputation for transparency and reliability, OANDA offers a wide range of trading products and services, including forex, CFDs, commodities, and indices.

Founded in 1996, OANDA is headquartered in New York City and is regulated in multiple jurisdictions, including the US, UK, Canada, Australia, and Japan. This ensures that OANDA operates within strict regulatory frameworks and offers a high level of security and protection to its clients.

OANDA offers a range of trading platforms, including its proprietary platform, as well as the popular MT4 platform. The broker also provides a range of educational resources and tools to help traders improve their trading skills and stay up-to-date with market developments. In terms of customer support, OANDA has a 24/7 customer service team that can be reached via phone, email, or live chat.

overview

Pros & Cons

OANDA is a well-established forex and CFD broker with a range of features and services that may appeal to traders of all levels. As with any broker, there are both pros and cons to consider before deciding whether to open an account. Some of the key advantages of OANDA include its regulatory status, extensive range of instruments, competitive spreads, and variety of trading platforms. However, it is important to note that OANDA also has some potential drawbacks, such as limited deposit and withdrawal options, high non-trading fees, and a lack of negative balance protection. Understanding both the positives and negatives of trading with OANDA can help traders make informed decisions about whether this broker is the right fit for their needs.

Pros Cons
Regulated by top-tier authorities Limited product portfolio
Competitive spreads and low trading fees High inactivity fees
No minimum deposit requirement Limited research tools
Variety of trading platforms Negative reviews and complaints on customer support
Educational resources and tools Limited payment options
Strong financial background No professional account offered

Is OANDA legit or a scam?

OANDA is a legitimate forex broker that has been in operation for more than 20 years and is regulated by reputable financial authorities, such as the Financial Conduct Authority (FCA) in the UK, the Commodity Futures Trading Commission (CFTC) in the US, and the Australian Securities and Investments Commission (ASIC). OANDA has also won numerous awards for its trading services and technology, including being named the “Best Forex Broker” by the Financial Times and Investors Chronicle for three consecutive years. However, as with any financial service, it is important for traders to conduct their own research and due diligence before deciding to trade with OANDA or any other broker.

regulation
regulation
regulation
regulation
regulation
regulation

Market Instruments

OANDA offers a wide range of trading instruments to its clients, allowing them to diversify their investment portfolio and take advantage of various market opportunities. The market instruments offered by OANDA include:

  • Forex: OANDA provides access to a wide range of currency pairs, including major, minor, and exotic pairs. The forex market is the largest and most liquid market in the world, offering traders the potential for high returns.

  • Indices: OANDA offers trading in a variety of global indices, such as the US 500, UK 100, and Germany 30. These indices represent the performance of a basket of stocks and provide traders with exposure to a broader market.

  • Commodities: OANDA offers trading in commodities such as precious metals, energy, and agricultural products. These markets can be highly volatile, but they offer the potential for significant returns.

  • Bonds: OANDA offers trading in government bonds from a variety of countries, providing traders with exposure to the fixed-income market.

  • Cryptocurrencies: OANDA offers trading in popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. The cryptocurrency market is highly volatile and can offer traders significant opportunities.

  • Bonds: OANDA also offers a range of bond CFDs to trade, including US Treasury Bonds, UK Gilts, and Euro Bunds. With bond trading, traders can access a wide range of bond markets and potentially benefit from price movements in global interest rates.

market-intruments

Account Types

OANDA offers two live account types to cater to different trading needs and experience levels of traders. Here are the account types offered by OANDA:

  • Standard Account: This account type is suitable for new traders who are just starting in the forex market. The minimum deposit requirement for this account is $0, and it offers access to the core features of OANDA's trading platform, including over 70 currency pairs, commodities, and indices.

  • Premium Account: This account is designed for more experienced traders who require additional features and services. The minimum deposit requirement for this account is $20,000, and it offers tighter spreads, lower trading costs, and a dedicated relationship manager.

account-types
account-types

Apart from two live trading accounts, OANDA also offers a free demo account, which allows traders to practice trading with virtual funds in a risk-free environment. The demo account provides access to all the features and tools of the OANDA platform, allowing traders to test their strategies and trading skills without risking real money.

account-types
Pros Cons
No minimum deposit requirement Limited leverage offered
Multiple account types to choose No professional accounts available
Wide range of trading instruments Inactivity fee charged after 12 months of inactivity
Commission-free trading
Negative balance protection
Free demo account available

How to open an account?

  1. Visit the official OANDA website and click on the “Open an Account” button.

open-account
  1. Choose the type of account you want to open.

  2. Fill in your personal information, including your name, address, date of birth, and employment status.

open-account
  1. Provide some additional information, such as your trading experience, investment goals, and financial status.

  2. Agree to the terms and conditions of the account and submit your application.

  3. Once your application is approved, you will receive an email with instructions on how to fund your account.

  4. Follow the instructions to deposit funds into your account and start trading.

Leverage

OANDA offers leverage up to 50:1 for major currency pairs and up to 20:1 for minor currency pairs, commodities, and indices. However, leverage may vary based on the regulatory requirements of the country where the trader is located. It is important to note that high leverage can increase both profits and losses, and traders should carefully consider their risk tolerance before using leverage.

leverage
leverage
leverage

Spreads & Commissions (Trading Fees)

OANDA charges variable spreads that start from as low as 0.1 pips on major currency pairs. OANDA's spreads can vary depending on market volatility and liquidity, but they tend to be lower than the industry average.

In terms of commissions, OANDA does not charge any commissions on trades. Instead, the broker earns revenue from the spreads on trades. This can be a plus for traders who prefer to avoid paying commissions.

It's worth noting that OANDA also offers a range of order types, including limit, stop-loss, and take-profit orders, which can help traders manage their risk and maximize their profits.

spreads-commissions
spreads-commissions
spreads-commissions

Here is the combined data for EUR/USD, gold, and UK100 spreads from three brokers:

Broker EUR/USD Gold UK100
OANDA 0.9 pips 25 cents 1.4 pips
FP Markets 0.0 pips 35 cents 1.0 pips
Exness 0.3 pips 35 cents 0.5 pips

Non-Trading Fees

OANDA also charges certain non-trading fees, which include:

  • Inactivity fee: OANDA charges an inactivity fee of 10 units of the account's base currency per month if there has been no trading activity for a period of 12 months or more. This fee can be avoided by simply placing a trade during this period.

Non-Trading Fees
  • Financing/rollover fees: If a position is held overnight, OANDA charges a financing/rollover fee. This fee is based on the interest rate differential between the two currencies involved in the trade and is calculated using the following formula: (trade size x interest rate differential x 1/365).

  • Deposit/withdrawal fees: OANDA does not charge deposit fees, but some withdrawal methods may incur a fee. For example, bank wire withdrawals within the US incur a $20 fee, while international wire withdrawals incur a $35 fee.

  • Conversion fees: If you are depositing or withdrawing funds in a currency other than your account's base currency, OANDA charges a conversion fee. This fee varies depending on the currency and the amount being converted.

Non-Trading Fees

Trading Platform

OANDA offers multiple choices of trading platforms, namely MetaTrader 4 (MT4), OANDA Web Trading Platform, and OANDA Trade.

MetaTrader 4 (MT4): This is a widely used trading platform in the forex industry, popular for its advanced charting tools and automated trading capabilities. OANDA offers MT4 to its clients as a downloadable desktop application and mobile app.

trading-platform

OANDA offers a proprietary trading platform called OANDA Trade, which is available in both web-based and mobile versions. The platform is highly customizable and offers a wide range of charting tools, technical indicators, and order types.

trading-platform
trading-platform

OANDA Web Trading Platform: This is a web-based platform accessible from any device with internet connectivity. It offers a user-friendly interface and customizable features for traders to analyze the market and execute trades.

Here is a comparison table of the trading platforms offered by OANDA, Avatrade, and IC Markets:

Broker Trading Platform Desktop Web Mobile
OANDA OANDA Platform
MetaTrader 4
MetaTrader 5
Avatrade AvatradeGO
MT4
MT5
IC Markets cTrader
MetaTrader 4
MetaTrader 5
WebTrader

Trading Tools

OANDA provides several trading tools to its clients, including:

Advanced Charting: OANDA's advanced charting tools offer technical analysis and indicators to help traders make informed decisions.

Economic Calendar: OANDA's economic calendar provides real-time updates on important economic events and news releases that can affect the markets.

Partners & VPS: OANDA partners with TradingView, a leading charting platform, to provide its clients with advanced charting and analysis tools. OANDA also partners with MotiveWave, a professional trading platform, to offer advanced technical analysis tools and trading strategies. In addition, OANDA offers a virtual private server (VPS) service to traders who require uninterrupted trading connectivity.

trading-tools
trading-tools
trading-tools
trading-tools

Deposit & Withdrawal

Deposit

OANDA offers several deposit methods, including:

  • PayNow/QR Pay: This payment method is available for Singapore residents only. It allows for instant deposits into your trading account. Deposits from the following banks in Singapore: DBS/POSB, Bank of China, Citi, HSBC, Maybank, OCBC, Standard Chartered and UOB, are accepted.

  • DBS Bill Pay (SGD only): Another payment method available only for Singapore residents, DBS Bill Pay allows you to make SGD-denominated deposits into your trading account.

  • PayPal: PayPal is a popular online payment system that is accepted by OANDA. It allows you to make instant deposits and withdrawals from your trading account.

  • FAST: FAST (Fast and Secure Transfers) is a real-time interbank payment and settlement system in Singapore. It allows for instant SGD-denominated deposits into your trading account.

  • Bank wire transfer: You can also fund your trading account via bank wire transfer. This method typically takes 1-2 business days to process.

  • Cheques: Cheques are accepted for deposits only, and they must be in SGD currency.

deposit-withdrawal
deposit-withdrawal

Withdrawal

While withdrawals that can be done are limited to three channels: PayPal, Bank Wire Transfer, and Cheque.

  • Paypal: This is an online payment system that allows you to send and receive money electronically. To use this method for withdrawal, you will need to have a verified Paypal account that is linked to your OANDA trading account. Withdrawals are typically processed within 1-2 business days.

  • Bank Transfer: This method involves transferring funds from your OANDA trading account directly to your bank account. The time it takes to receive your funds will depend on your bank's processing time. OANDA does not charge any fees for bank transfers, but your bank may have its own fees.

  • Cheque: You can request to receive your funds via cheque, which will be sent to your registered address. It typically takes around 7-10 business days to receive your cheque. However, there may be additional fees for this method, depending on your location.

deposit-withdrawal
Pros Cons
Multiple deposit methods offered Limited withdrawal methods
No fees charged on deposits Withdrawals may take longer to process
Fast processing time for most deposit methods Minimum withdrawal amount may vary by method
Deposit amounts in multiple currencies No option to withdraw to credit/debit cards

Customer Support

OANDA offers customer support services through various channels, including email, live chat, phone, and social media. The support team is available 24/7 to assist traders with any issues they may encounter during their trading journey.

One notable feature of OANDA's customer support is its multilingual support, which is available in several languages, including English, Chinese, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish, and Turkish.

In addition to its customer support services, OANDA provides a comprehensive FAQ section on its website, which covers various topics, including account management, trading platforms, technical analysis, and more. The FAQ section is a valuable resource for traders who may have common questions and want quick answers without contacting customer support.

customer-support
customer-support

Educational Resources

OANDA offers a wealth of educational resources to its clients, enabling them to develop their trading skills and stay up-to-date with the latest market trends. Whether you are a beginner or an experienced trader, OANDA's educational resources cater to your needs.

One of OANDA's important educational resources is the OANDA Academy, which offers a range of educational materials, including videos, tutorials, webinars, and articles, covering a wide range of trading topics, from the basics of forex trading to advanced trading strategies.

Additionally, OANDA provides clients with a variety of market analysis tools and resources, including market news, economic indicators, and trading signals, enabling traders to stay informed about the latest market trends and make informed trading decisions.

educational-resources

Conclusion

OANDA is a well-established online broker that offers a variety of trading instruments, account types, and platforms to its clients. The broker is regulated by multiple reputable authorities and has been operating for more than two decades, which gives it credibility and reliability. Additionally, OANDA provides several trading tools, educational resources.

However, it is important to note that OANDA has received a significant number of complaints regarding its customer support, trading platforms, and pricing policies. While the broker has taken steps to address these issues, they still raise concerns about the overall quality of its services.

Overall, OANDA is a legitimate and reputable broker that offers a range of benefits to its clients. However, potential traders should be aware of the complaints and consider them before making a decision to open an account with OANDA. As with any investment, it is important to conduct thorough research and due diligence to ensure that the broker aligns with your trading needs and preferences.

Frequently Asked Questions (FAQs)

  • Q: Is OANDA regulated?

A: Yes, OANDA is regulated by multiple financial regulatory authorities around the world, including the Financial Conduct Authority (FCA) in the UK, the Commodity Futures Trading Commission (CFTC) in the US, the Australian Securities and Investments Commission (ASIC), and the Monetary Authority of Singapore (MAS).

  • Q: What is the minimum deposit required to open an account with OANDA?

A: The minimum deposit required to open an account with OANDA varies depending on the account type and the regulatory jurisdiction. In general, it ranges from $0 to $20,000.

  • Q: What trading instruments are available on OANDA's platform?

A: OANDA offers a wide range of trading instruments, including forex, CFDs, commodities, bonds, and stock indices.

  • Q: Does OANDA charge commissions on trades?

A: OANDA does not charge commissions on trades. Instead, they make money from the spread, which is the difference between the bid and ask price.

xm
Registered in Cyprus
Regulatory status ASIC, CYSEC, FSA, FSC and DFSA
Year(s) of incorporation 10-15 years
Market instruments Currency pairs, stocks, commodities, precious metals, energies, indices...
Minimum initial deposit $5
Maximum leverage 1:1000
Minimum spread From 0.6 pips
Trading platform MT5, MT4, own platform
Deposit and withdrawal methods credit or debit card, Paypal, Skrill Moneybookers, Neteller, WebMoney, CashU, GiroPay
Customer Service Email/phone number/address/live chat
Fraud allegations Not yet

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of XM

Pros:

  • Wide variety of financial instruments to operate.

  • It offers popular platforms such as MT4 and MT5, as well as its own APP.

  • Demo account available to practice before trading with real money.

  • It offers educational resources such as market analysis, economic calendars and courses.

  • 24/7 customer service via live chat, email and telephone.

Cons:

  • The $10,000 minimum deposit for the stock account may be prohibitive for some traders.

  • Spreads on some accounts may be higher than those offered by other brokers.

  • Commissions are applied to the share account.

  • The maximum leverage of 1:1000 may increase risk for inexperienced traders.

  • Regulation in Cyprus may be less stringent than in other European countries.

What type of broker is XM?

Dimension Advantages Disadvantages
Broker Model XM offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' operations, XM has a potential conflict of interest that can lead to decisions that are not in the best interest of its clients.

XM is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, XM acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of offering leverage. However, this also means that XM has a certain conflict of interest with its clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interest of their clients. It is important for traders to be aware of this dynamic when trading with XM or any other MM broker.

Regulation

Regulation is a key dimension to consider when choosing a forex broker, as it offers some protection to the client in terms of security of funds, transparency and fairness of operations. XM is a Cyprus registered company and regulated by several major regulatory bodies, including ASIC, CYSEC, FSA, FSC and DFSA.

ASIC is the Australian Financial Services Authority and is responsible for regulating the financial sector in Australia. CYSEC is the Cyprus Securities and Exchange Commission and is the financial regulatory authority in Cyprus. The FSA is the Financial Services Authority of the United Kingdom and regulates the financial sector in the United Kingdom. The FSC is the Financial Services Commission of Mauritius, which regulates the financial sector in Mauritius. The DFSA is the Dubai Financial Services Authority and is the financial regulatory authority in Dubai.

Multi-entity regulation provides greater customer protection, as it means that the broker is subject to multiple sets of regulations and standards. In addition, this can enhance the broker's reputation in the industry.

In summary, XM is a forex broker regulated by several entities, which provides clients with greater protection and transparency in their operations.

XM General Information

XM is a Forex and CFD broker based in Cyprus and regulated by several internationally renowned financial authorities, including ASIC, CYSEC, FSA, FSC and DFSA. It offers a wide variety of financial instruments, including cryptocurrencies, stocks, metals, currency pairs, indices, energies, etc. Clients have access to several trading platforms, including MT4, MT5 and the XM mobile app, and can choose from four different account types. XM also offers a free demo account, educational resources and 24/7 customer support.

In the following article, we will analyze the characteristics of this broker in all its dimensions, offering you easy and well-organized information. If you are interested, read on.

General information

Market instruments

Advantages Disadvantages
Wide range of financial instruments to choose from It can be overwhelming for new or inexperienced traders.
Traders can diversify their portfolio Some financial instruments may have limited liquidity
Opportunities to take advantage of different markets Traders may need to perform additional analysis of the different markets and their influencing factors.
Greater flexibility to implement different strategies Some traders may not be interested in certain financial instruments.

XM offers its traders a wide variety of over 1000 financial instruments, including cryptocurrencies, stocks, metals, currency pairs, indices, energies and more. This variety allows traders to diversify their portfolios and take advantage of different markets to implement different trading strategies. Traders also have the flexibility to choose from a wide range of financial instruments and select the ones that best suit their trading preferences and objectives. However, for some new or inexperienced traders, the variety of financial instruments can be overwhelming, and some instruments may have limited liquidity, which can make trading them difficult.

market instruments

Spreads and commissions for trading with XM

Advantages Disadvantages
Low Spreads Spreads can be higher during periods of high volatility
No commissions charged on the first three accounts A commission is charged on the share account.
Highly leveraged accounts Spreads may vary according to account type and time of day.

In terms of spreads and commissions, XM offers low spreads on the first three commission-free accounts. However, during periods of high volatility, spreads may be higher. On the equity account, a commission is charged in addition to the spreads. The accounts offer high leverage, which means that investors can trade significantly more money than they have in their account. Spreads can vary by account type and time of day, so investors should keep an eye out for changes. In general, XM offers competitive spreads and account options to suit different investment levels.

Trading accounts available at XM

Advantages Disadvantages
Low minimum deposit accounts The share account has a high minimum deposit
Offers account options for different investment levels A commission is charged on the share account.
No commissions charged on the first three accounts There is no leverage in the share account.
High leverage on the first three accounts The ultra low account has higher spreads than other accounts.

XM offers a variety of account types to suit different investment levels. The micro, standard and ultra low accounts have no high minimum deposit and no commissions are charged. The ultra low account has higher spreads than the other accounts, but the goal is to offer even lower spreads than those offered in the micro and standard accounts. The stock account has a minimum deposit of $10,000 and a commission is charged. No leverage is offered on the share account, which means investors must invest the full amount of their trade. In general, XM offers account options for different investment levels.

The XM demo account is an excellent tool for novice traders or those who wish to test new trading strategies without risking their capital. The demo account comes with a virtual trading platform that replicates live trading conditions and can be accessed from any device. Traders can practice their trading skills and familiarize themselves with the financial instruments available at XM without having to risk their money. In addition, the XM demo account has no time restrictions, which means that traders can use it for as long as they need before they start trading with a live account. Overall, the XM demo account is a valuable tool for those who wish to improve their trading skills before getting involved in live trading.

account types

Account Opening

XM, is a broker, which has an account opening with a minimum deposit of $5. The steps for account opening

How can you open an XM Broker account?

Currently, there are numerous online brokers on the market, where you can trade forex, CFDs. Each of them offers a variety of trading accounts, in a simple and fast way, where there are brokers that have an easier registration process. Below are the steps to follow for opening an XM Broker account:

a) Fill in your personal data and address in the online registration form.

b) Usually, you have to choose the leverage, to comply with regulatory bodies, in this broker does not meet the regulatory parameters. So be careful.

c) Upon completion, it is recommended to read, agree and accept the terms and conditions of the contract.

d) Sending documentation, there are brokers that request documentation, in this case, the company does not indicate the requirement of the same.

e) Proof of identity, you must send a scanned document proving your identity, e.g. passport, ID card or driver's license. Must be valid

f) Proof of Address: as to the veracity of the address, a scanned copy of the current utility bill verifying the address must be provided.

g) Make initial deposit: each Broker establishes its minimum deposit, for the opening of the trading account it offers.

h) Upon completion of the registration process, you have access to the client area with the Broker.

Operating platform offered by XM

Advantages Disadvantages
It offers the popular MT4 and MT5 platforms, which are widely used by traders around the world. XM's proprietary trading platform may have fewer features than MT4 and MT5.
MT4 and MT5 offer extensive customization possibilities and a wealth of technical indicators and analysis tools. The learning curve can be steep for beginners using MT4 and MT5.
The XM mobile app is easy to use and is available for both iOS and Android. Users may have trouble switching from one platform to another if they are used to a particular one.

XM offers its clients a selection of trading platforms, including the popular MT4 platform and its successor, MT5. In addition, the company has also developed its own custom trading platform for those looking for something different. Both platforms offer a wide variety of technical indicators, analysis tools and customization possibilities. XM's mobile app is also easy to use and is available on iOS and Android. However, for those who are comfortable with a particular platform, it may be difficult to switch to another platform. Beginners may also find the MT4 and MT5 learning curve steep, although the customization possibilities and variety of analysis tools may make it worth the effort. Overall, XM offers a solid selection of trading platforms to meet the needs of all traders.

trading platform

XM also offers a series of instructional videos, such as this one from its YouTube channel, on how to open an account using MT4.

XM maximum leverage

Advantages Disadvantages
Enables operators to expand their investment capacity Significantly increases the risk of loss
Possibility of obtaining higher profits with less capital Requires greater knowledge and experience of the market
Allows diversification of the portfolio with larger positions Lack of proper management can lead to large losses
Greater flexibility to operate different instruments Increased exposure to the risk of market fluctuations

Leverage is an important tool in Forex trading that allows traders to have greater exposure to the market with limited capital. At XM, the maximum leverage offered is 1:1000, which means that for every $1 of capital, the trader can control up to $1000 in the market. This can be attractive to traders looking to maximize their profits with less capital.

However, it is also important to note that high leverage carries a higher risk of loss. If the market moves against the trader's position, losses can be significant. That is why it is important for traders to have proper risk management and understand the risks associated with trading with leverage before trading XM.

maximum leverage

Deposit and Withdrawal: methods and fees

In XM deposits and withdrawals are made from the user's site, and is functional on mobile devices can use mobile trading.

There are brokers that accept bank transfers and credit or debit card payments. Some brokers offer greater facilities by implementing the possibility of payment through electronic means of payment such as Paypal, Skrill Moneybookers, Neteller, WebMoney, CashU, GiroPay, etc.

XM Education

Advantages Disadvantages
Wide variety of educational resources, including market analysis, economic calendars, signals and online courses. Not all educational resources are available in all languages.
Offers trading tools and videos to help traders improve their skills. The quality of educational resources may vary depending on the trader's level of experience.
Offers regular webinars and online seminars. Some educational resources may not be up to date with the latest market developments.

XM strives to provide a wide variety of educational resources to help their clients improve their trading skills. They offer a wide range of tools and resources, such as market analysis, economic calendars, signals and online courses. In addition, XM regularly offers webinars and online seminars, which are an excellent way to learn from experienced traders and gain a better understanding of the markets. However, not all educational resources are available in all languages and the quality of educational resources may vary depending on the trader's level of experience. In addition, some educational resources may not be up to date with the latest developments in the markets, so traders should be careful in selecting the resources they use. Overall, XM makes a solid effort to provide a variety of useful educational resources for its clients.

educational resources

XM Customer Service

Advantages Disadvantages
Live chat available 24/7 No toll-free number
Multilingual customer service
Registered address provided on the website No estimated response time is mentioned
E-mail available for inquiries No fax support
International phone numbers available No callback service available

XM excels in its customer service by providing a live chat available 24 hours a day, which means that customers can get real-time help at any time. In addition, XM's website offers the company's registered address, which provides greater transparency and confidence to the customer. Multi-language customer support is also a significant advantage for international customers. In addition, XM provides an international e-mail address and phone numbers for support inquiries. However, a disadvantage is the lack of a toll-free number, as well as the lack of social media and fax support. In addition, there is no mention of an estimated response time for support inquiries and no callback service is offered.

customer support

Conclusion

Overall, XM is a well-regulated and secure company that offers a wide range of financial instruments and a good variety of accounts. Its focus on customer education and 24/7 multilingual support is also a big plus. Disadvantages include floating spreads that can be higher than the competition and the lack of a proprietary trading platform. Overall, XM is a good choice for those looking for a regulated broker with a wide range of products and customer support services.

Frequently asked questions about XM

  • Question: Is XM a regulated company?

  • Answer: Yes, XM is regulated by multiple agencies such as ASIC, CYSEC, FSA, FSC and DFSA.

  • Question: What are the account types offered by XM?

  • Answer: XM offers four account types: micro account, standard account, ultra low account and share account.

  • Question: What is the minimum deposit required to open an XM account?

  • Answer: The minimum deposit required for the first three accounts (micro account, standard account and ultra low account) is $5, while for the share account it is $10,000.

  • Question: What trading platforms does XM offer?

  • Answer: XM offers the most popular trading platforms in the industry: MT4 and MT5, as well as its own mobile application.

  • Question: What is the maximum leverage offered by XM?

  • Answer: The maximum leverage offered by XM is 1:1000.

  • Question: Does XM offer a demo account?

  • Answer: Yes, XM offers a demo account for clients to practice without risking their own money.

  • Question: What educational resources does XM offer?

  • Answer: XM offers a wide range of educational resources such as market analysis, economic calendars, trading signals, tools, videos, courses and webinars.

Are the transaction costs and expenses of oanda, xm lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive oanda and xm are, we first considered common fees for standard accounts. On oanda, the average spread for the EUR/USD currency pair is EURUSD/1 Gold/3 pips, while on xm the spread is as low as 1.

Which broker between oanda, xm is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

oanda is regulated by ASIC,FCA,FSA,NFA,IIROC,MAS. xm is regulated by ASIC,CYSEC,FSC,DFSA,FSCA.

Which broker between oanda, xm provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

oanda provides trading platform including Standard account and trading variety including Foreign exchange, precious metals, crude oil, CFD. xm provides trading platform including Micro Account,Standard Account,Ultra Low Spread Standard & Micro Account,Stock Account and trading variety including Major FX pairs, Minor FX pairs, Commodities, Indices CFDs.

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